A year after being voted onto the Olympic Games program, Sevens Rugby has agreed to its first sponsorship deal to further boost the sport.

Banking giant HSBC was awarded title-naming rights to the International Rugby Board's Sevens series for the next five years on Tuesday.

The eight-stage competition will now be known as the HSBC Sevens World Series.

IRB President Bernard Lapasset says "these are very exciting times for our sport and this deal will benefit rugby at all levels."

Sevens rugby will be played at the Olympics for the first time in 2016 at Rio de Janeiro after the IOC confirmed its membership last October.

Samoa won this year's Sevens series for the first time in the tournament's 11-year history.

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